Firm of the Month

Author Archives: CPASNET

With a new year ahead of us, now is a great opportunity to re-evaluate your policies, taking into consideration the trends and changes we anticipate in the profession. This article will identify key areas accounting firms should focus on in 2017.

Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. Here are some key facts that you should know about home energy tax credits: Non-Business Energy Property Credit Part of this credit is worth … Continued

Millions of taxpayers ask for an extra six months to file their taxes every year. If you are one of them, then you should know that Monday, Oct. 17 is the extension deadline in 2016. This is so because Oct. … Continued

If you, your spouse or a dependent are heading off to college in the fall, some of your costs may save you money at tax time. You may be able to claim a tax credit on your federal tax return. … Continued

The Internal Revenue Service warns taxpayers against telephone scammers targeting students and parents during the back-to-school season and demanding payments for non-existent taxes, such as the “Federal Student Tax.” Be on the lookout for IRS impersonators calling students and demanding … Continued

If you rent a home to others, you usually must report the rental income on your tax return. However, you may not have to report the rent you get if the rental period is short and you also use the … Continued

Whether you’re an employer or an individual taxpayer, you need to be aware of the variety of tools available to assist you in estimating credits and payments related to the Affordable Care Act. Because these tools provide only an estimate, … Continued

Special tax rules may apply to some children who receive investment income. The rules may affect the amount of tax and how to report the income. Here are five important points to keep in mind if your child has investment … Continued

The Internal Revenue Service warns taxpayers about groups masquerading as charitable organizations to attract donations from unsuspecting contributors, one of the “Dirty Dozen” for the 2016 filing season. “Fake charities set up by scam artists to steal your money or … Continued

The Affordable Care Act requires you, your spouse and your dependents to have qualifying health care coverage for each month of the year, qualify for a health coverage exemption, or make an Individual Shared Responsibility Payment when filing your federal … Continued